The project, which is a joint initiative between ScotRail, North Lanarkshire Council, Strathclyde Partnership for Transport (SPT) and Transport Scotland, is intended to create a gateway to the Glasgow City Region and improve links between bus and train services.
The station will be redeveloped under the £14.5m project, which also includes an overhaul of the public realm outside the station building.
The project will be delivered in two phases, with work on the station redevelopment due to start by this summer and the transport integration works following in 2021.
Kirsty Devlin, ScotRail head of projects, said: "Motherwell is ready for a railway station that matches the dynamic and forward-looking development of the town. Our close collaboration with North Lanarkshire Council, SPT, and Transport Scotland will deliver the best possible improvements to facilities and integrated transport options at Motherwell station.
"The improved integration of transport services and infrastructure will transform the relationship between the station and the town centre.”
Councillor Paul Kelly, depute leader of North Lanarkshire Council, said: “The new facilities will also link to the council's other Glasgow City Region City Deal projects which will deliver new roads connecting Cumbernauld, Airdrie, Ravenscraig and the M74, bringing new business and jobs to the area, opening up links with the rest of the Scotland and the UK and giving a major boost to the local economy."